Another embarrassing corporate media faux pas was revealed when, during an interview with Congressman Ron Paul, Bloomberg put up a caption seconds after Paul called for less financial regulation, claiming that he had called for more.

During a conversation about the Madoff scandal, Paul was asked if the SEC should be shut down, to which he responded, “It’s proven it’s a total failure, it isn’t a lack of regulation, every time a problem comes along we put on more regulations.”

A few seconds later, a caption appeared on the screen which stated, “Breaking News: Paul Says We Need More Regulation, Calls SEC ‘Inept'”.

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This was a total misquotation and mischaracterization of what the Congressman said. He had stated a minute earlier that the only thing that required regulation was “the counterfeiting of money,” referring to the Federal Reserve’s relentless printing of dollars, but the caption implied that he had called for regulation of the SEC when he had in fact called for the opposite.

Paul later said that more SEC regulations would only “compound our recovery,” again expressing his opposition to regulations.

The air head host then engaged in double-think by claiming that regulation of the financial system was working but that it had not been enforced, begging the question, as one You Tube respondent commented, “How can someone claim regulation is working AND that it is not enforced? …The two are contradictory.”

To any rational thinking person this is a contradictory statement, but the corporate media is hell bent on regurgitating the talking point that the financial crisis, created and made worse by the elite, will only be solved by giving more power and control to that same elite.

The drumbeat for more “regulation” is so incessant that Bloomberg were apparently happy to take what Ron Paul said and turn it around 180 degrees in their favor by flashing up a ready made slogan, a completely dishonest maneuver but one performed out in the open without a care for accuracy or integrity.